Write An Impeccable Business Plan For Mobile App Idea

Nowadays, there are plenty of opportunities to get into business and make money from ideas that couldn’t be monetized 10 years ago. We’re experiencing the boom of mobile app development, and even though this isn’t a new trend, there are plenty of domains and markets with lots of room for improvement. So, if you thought of a mobile app that can fill the void in a particular sector or solves a fundamental problem, you’re just one step away from launching a business. However, if you lack the funds to go into production, you’ll need to convince some investors to get on board.

In the following paragraphs, we’re exploring some of the main points that will help you put together a great business plan so that investors see it through your eyes. In other words, it’s the part that connects the mobile app development process with the funds to make the dream possible.

The Executive Summary of Your Gambling Mobile App Business Idea

The main step in building a business plan and getting your mobile application from the “idea” status to implementation is putting together an executive summary. This is the first thing a potential investor will lay their eyes on. It’s the perfect place for a unique value proposition. You need quite a lot of imagination in this part, and it’s also really important, as it can be the mobile app future. You can think of the executive summary as the trailer for a movie.

As an example, we’ll look at a gaming app that offers unique games, such as Dragon Champions, to its users. Referring to the executive summary, you’ll need to start with how your gambling application is going to appeal to players. You should then mention a few of the new things it brings to the table that make it different from what’s already available. Also, don’t forget to mention the costs of developing the product, acquiring popular titles, as well as increasing popularity through clear marketing strategies.

Business Description
In this part, you’ll tell investors all about your business idea. Starting with your company and ending with your concept, together with the mobile app trends that support the need for such an investment. This is where you show investors what the corporate values you adhere to are, specify your mission, and how you see your product on the market.

Company Overview
If you already have a company that needs expanding or you’re planning to start one from scratch, this is the place to describe it thoroughly. Every employee should have a clear role in achieving the end-goal, and every position should be justified. Include things like:

●    Business structure
●    Company history – if you’re already active for quite some time
●    Location
●    Available workforce
●    Needed workforce to achieve the goals
●    Mission
 
Market Analysis
You may be sure you have an innovative mobile app that will bring great results in the niche you’re targeting. However, investors may not have a clue about what’s going on with mobile apps. Some of them may not even use smartphones at all. That’s why you should include a complete market analysis in your business plan that clearly presents the current situation and what your app will bring to the table. When it comes to mobile app technology, making the details easily accessible by non-tech-savvy people is the main challenge. That’s why you should look for an experienced copywriter who can help you reach out to all potential investors, no matter their technical or mobile knowledge.

Also, remember that this is the part where you show the viability of your project. Don’t put all your energy into explaining what your app does and how it’s going to change things. Also, make it clear how it performs compared to competitors and the available resources in the market.

Market Forecasts
Besides presenting a solid market analysis in your business plan, you’ll also have to think ahead. Even with the best mobile app, you will need to take potential investors on a journey. Look at a casino app, for example. There’s a lot of demand for such products nowadays, with gambling mostly moving to mobile devices and the physical venues being closed in most countries. However, you should also try and paint a picture for the next five or ten years. Besides forecasting how the app will perform, you can include the growth of companies within the mobile application industry and potential competition that may arise.

Sure, you’re no Nostradamus to come up with accurate predictions of the future. However, a market analysis based on data and surveys will help investors understand you’re very serious about what you’re doing.
 

Financials
We’ve reached the part of a mobile application business plan where you need to discuss money. First of all, take the time to understand exactly the kind of financing you’ll need to achieve your goals. Then, do your best to make it easy to understand for any investor reading your business plan. The financial model should include a 3 to 5-year forecast for cash flow, balance sheets, loss, and profit. Also, you should take into consideration splitting the financial needs in:

●    Startup costs
●    One-time costs
●    Periodic costs
●    Fixed costs
●    Variable costs

Make sure not to exclude the monetization strategy from your business plan. Sure, you can convince investors you have a good mobile app idea and a strong plan to turn it into reality. However, they also need to clearly understand how you’re going to make money from it. Include all possible monetization channels such as:

●    Advertising
●    A fee for downloading the product
●    In-app purchases (very popular these days)
●    Subscriptions

Now, depending on the niche you’re focusing on, there might be other elements that need to go into your business plan. However, these ideas will help you build a complete strategy to present to investors and achieve the goals you need.

We invite all our readers that previously wrote business plans for various domains to share their experience. Help others and contribute with your knowledge to create a tight community!